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**UNITED STATESSECURITIES AND EXCHANGE COMMISSION** Washington, D.C. 20549

FORM 10-QSB

x  QUARTERLY
  REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended **June 30, 2005**

 ̈  TRANSITION
  REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________________ to ___________________

Commission file number: **000-28837**

NEW JERSEY MINING COMPANY
  (Exact name of registrant as specified in its charter)

|Idaho                        | 82-0490295                       
|---------------------------- | ---------------------------------
|(State or other jurisdiction | (IRS employer identification no.)
|of incorporation)            |                                  

89 Appleberg Road, Kellogg, Idaho 83837
  (Address of principal executive offices)

Registrant’s telephone number, including area code: **(208)
  783-3331**

|Common Stock        | The OTC-Bulletin Board               
|------------------- | -------------------------------------
|Title of each class | Name and exchange on which registered

Indicate by check mark whether the registrant (1) has filed
  all reports required to be filed by Section 13 or
  15(D) of the Securities Exchange Act of 1934 during the preceding 12 months
  (or for such shorter 
  period as the registrant was required to file such reports), and (2) has been
  subject to filing 
  requirements for the past 90 days.

Yes x    
  No  ̈

At July 19, 2005, there were 22,036,230 shares of the registrant’s
  common stock outstanding.

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NEW JERSEY MINING COMPANY 
  QUARTERLY REPORT ON FORM 10-QSBFOR THE QUARTERLY PERIOD ENDED JUNE 30, 2005

TABLE OF CONTENTS

|                               |                                                                                         | Page
|------------------------------ | --------------------------------------------------------------------------------------- | ----
|                               |                                                                                        
|PART I – FINANCIAL INFORMATION |                                                                                        
|                               |                                                                                         |     
|Item 1.                        | Financial Statements                                                                    | 3   
|                               |                                                                                         |     
|Item 2.                        | Management’s Discussion and Analysis
      of Financial Condition and Plan of Operation | 6   
|                               |                                                                                         |     
|Item 3.                        | Controls and Procedures                                                                 | 7   
|                               |                                                                                        
|PART II – OTHER INFORMATION    |                                                                                        
|                               |                                                                                         |     
|Item 1.                        | Legal Proceedings                                                                       | 8   
|                               |                                                                                         |     
|Item 2.                        | Changes in Securities                                                                   | 8   
|                               |                                                                                         |     
|Item 3.                        | Defaults among Senior Securities                                                        | 8   
|                               |                                                                                         |     
|Item 4.                        | Submission of Matters to a Vote of Security
      Holders                               | 8   
|                               |                                                                                         |     
|Item 5.                        | Other Information                                                                       | 8   
|                               |                                                                                         |     
|Item 6.                        | Exhibits                                                                                | 8   
|                               |                                                                                         |     
|SIGNATURES                     | 9                                                                                      

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2

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PART I-FINANCIAL INFORMATION

Item 1. Financial Statements

NEW JERSEY MINING COMPANY
  (An Exploration Stage Company)BALANCE SHEETJune 30, 2005(Unaudited)

|ASSETS                                                     |  
|---------------------------------------------------------- | -
|                                                           |  
|Current assets:                                            |  
|Cash and cash equivalents                                  | $
|Accounts receivable                                        |  
|Total
      current assets                                 |  
|                                                           |  
|Buildings and equipment                                    |  
|Mineral properties and deferred development costs          |  
|                                                           |  
|Total
      assets                                         | $
|                                                           |  
|LIABILITIES AND STOCKHOLDERS’ EQUITY                       |  
|                                                           |  
|Current liabilities:                                       |  
|Accounts payable                                           | $
|Accrued payroll and payroll
      related expenses         |  
|Stock subscription payable                                 |  
|Obligation under capital
      lease, current              |  
|Total
      current liabilities                            |  
|                                                           |  
|Accrued reclamation costs                                  |  
|Obligation under capital lease, noncurrent                 |  
|                                                           |  
|Total
      liabilities                                    |  
|                                                           |  
|Stockholders’ equity:                                      |  
|Preferred stock, no par
      value; 1,000,000             |  
|shares
      authorized; no shares issued or outstanding   |  
|Common stock, no par value;
      50,000,000 shares        |  
|authorized;
      22,036,230 shares issued and outstanding |  
|                                                           |  
|Deficit accumulated during
      the development stage     |  
|                                                           |  
|Total
      stockholders’ equity                           |  
|                                                           |  
|Total liabilities and stockholders’
      equity           | $

The accompanying notes are an integral part of these financial
  statements.

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NEW JERSEY MINING COMPANY
  (An Exploration Stage Company)STATEMENTS OF OPERATIONSFor the Three and Six Month Periods ended June 30, 2005 and 2004 and for
  the period from
  inception (July 18, 1996) through June 30, 2005(Unaudited)

|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   | From Inception  |  
|----------------------------------------- | - | ------------- | - | - | ------------- | - | - | ------------ | - | - | ---------- | - | - | --------------- | -
|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   | (July 18, 1996) |  
|                                          |   | June 30, 2005 |   |   | June 30, 2004 |   |   | Through      |  
|                                          |   | Three Months  |   |   | Six Months    |   |   | Three Months |   |   | Six Months |   |   | June 30, 2005   |  
|Sales:                                    |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Gold                                      | $ | 9,150         |   | $ | 9,150         |   |   |              |   |   |            |   | $ | 9,150           |  
|Concentrate                               |   | 21,283        |   |   | 46,097        |   |   |              |   |   |            |   |   | 46,097          |  
|Total sales                               |   | 30,433        |   |   | 55,247        |   |   |              |   |   |            |   |   | 55,247          |  
|Cost of sales                             |   | 80,155        |   |   | 118,497       |   |   |              |   |   |            |   |   | 118,497         |  
|Gross profit (loss)                       |   | (49,722       | ) |   | (63,250       | ) |   |              |   |   |            |   |   | (63,250         | )
|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Operating expenses:                       |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Expenses paid with common
      stock     |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Management fees                           |   | 38,800        |   |   | 62,113        |   |   |              |   |   |            |   |   | 252,512         |  
|Directors fees                            |   | 3,600         |   |   | 3,600         |   |   |              |   |   |            |   |   | 62,050          |  
|Services and other                        |   | 10,478        |   |   | 20,278        |   | $ | 1,000        |   | $ | 2,500      |   |   | 54,718          |  
|Exploration                               |   | 7,000         |   |   | 12,500        |   |   | 6,600        |   |   | 6,600      |   |   | 32,500          |  
|Exploration expense                       |   | 1,732         |   |   | 23,492        |   |   | 329,237      |   |   | 364,954    |   |   | 641,882         |  
|General and administrative
      expenses |   | 63,858        |   |   | 153,119       |   |   | 59,673       |   |   | 118,446    |   |   | 635,383         |  
|Total operating expenses                  |   | 125,468       |   |   | 275,102       |   |   | 396,510      |   |   | 492,500    |   |   | 1,679,045       |  
|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Other (income) expense:                   |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Royalty and other income                  |   | (11,770       | ) |   | (12,202       | ) |   | (1,025       | ) |   | (1,843     | ) |   | (74,020         | )
|Write-off of goodwill                     |   |               |   |   |               |   |   |              |   |   |            |   |   | 30,950          |  
|Write-off of investment                   |   |               |   |   |               |   |   |              |   |   |            |   |   | 90,000          |  
|Total other (income) expense              |   | (11,770       | ) |   | (12,202       | ) |   | (1,025       | ) |   | (1,843     | ) |   | 46,930          |  
|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Net loss                                  | $ | 163,420       |   | $ | 326,150       |   | $ | 395,485      |   | $ | 490,657    |   | $ | 1,789,225       |  
|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Net loss per common share-basic           | $ | 0.007         | . | $ | 0.015         | . | $ | 0.020        |   | $ | 0.025      |   | $ | 0.123           |  
|                                          |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|Weighted average common shares            |   |               |   |   |               |   |   |              |   |   |            |   |   |                 |  
|outstanding-basic                         |   | 21,959,769    |   |   | 21,841,976    |   |   | 20,165,555   |   |   | 19,884,972 |   |   | 14,594,210      |  

The accompanying notes are an integral part of these financial statements.

4

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NEW JERSEY MINING COMPANY
  (An Exploration Stage Company)STATEMENTS OF CASH FLOWSFor the Six-Month Periods ended June 30, 2005 and 2004 and for the period
  from
  inception (July 18, 1996) through June 30, 2005(Unaudited)

|                                                    |   |          |   |   |          |   |   | From Inception |  
|--------------------------------------------------- | - | -------- | - | - | -------- | - | - | -------------- | -
|                                                    |   | June 30, |   |   | June 30, |   |   | Through        |  
|                                                    |   | 2005     |   |   | 2004     |   |   | June 30, 2005  |  
|Cash flows from operating activities:               |   |          |   |   |          |   |   |                |  
|Net loss                                            | $ | (326,150 | ) | $ | (490,657 | ) | $ | (1,789,225     | )
|Adjustments to reconcile
      net loss to net cash |   |          |   |   |          |   |   |                |  
|used by operating
      activities:                 |   |          |   |   |          |   |   |                |  
|Depreciation and amortization                       |   | 13,892   |   |   |          |   |   | 13,892         |  
|Write-off of equipment                              |   | 11,272   |   |   |          |   |   | 11,272         |  
|Write-off of goodwill and investment                |   |          |   |   |          |   |   | 120,950        |  
|Stock issued for:                                   |   |          |   |   |          |   |   |                |  
|Management fees                                     |   | 62,113   |   |   |          |   |   | 252,512        |  
|Directors fees                                      |   | 3,600    |   |   |          |   |   | 62,050         |  
|Services and other                                  |   | 20,278   |   |   | 2,500    |   |   | 54,718         |  
|Exploration                                         |   | 12,500   |   |   | 6,600    |   |   | 32,500         |  
|Change in:                                          |   |          |   |   |          |   |   |                |  
|Accounts receivable                                 |   | (33,924  | ) |   |          |   |   | (33,924        | )
|Other assets                                        |   | 2,346    |   |   | (3,463   | ) |   | 1,722          |  
|Accounts payable                                    |   | 24,469   |   |   | 119,680  |   |   | 29,610         |  
|Accounts payable to related party                   |   |          |   |   | (2,000   | ) |   |                |  
|Accrued payroll and related payroll expenses        |   | 3,471    |   |   |          |   |   | 9,186          |  
|Accrued reclamation costs                           |   |          |   |   |          |   |   | 12,500         |  
|Net cash used by operating activities               |   | (206,133 | ) |   | (367,340 | ) |   | (1,222,237     | )
|                                                    |   |          |   |   |          |   |   |                |  
|Cash flows from investing activities:               |   |          |   |   |          |   |   |                |  
|Purchases of building and
      equipment           |   | (27,283  | ) |   | (162,277 | ) |   | (396,151       | )
|Purchases of mineral property                       |   |          |   |   |          |   |   | (5,904         | )
|Cash of acquired companies                          |   |          |   |   |          |   |   | 38,269         |  
|Deferral of development
      costs                 |   |          |   |   | (23,830  | ) |   | (225,535       | )
|Net cash used by investing activities               |   | (27,283  | ) |   | (186,107 | ) |   | (589,321       | )
|                                                    |   |          |   |   |          |   |   |                |  
|Cash flows from financing activities:               |   |          |   |   |          |   |   |                |  
|Exercise of stock purchase
      warrants           |   |          |   |   | 222,500  |   |   | 599,500        |  
|Sales of common stock, net
      of issuance costs  |   | 85,000   |   |   | 373,500  |   |   | 1,283,807      |  
|Received for stock not yet
      issued             |   | 20,000   |   |   |          |   |   | 20,000         |  
|Principal payments on capital
      lease           |   | (6,186   | ) |   |          |   |   | (54,587        | )
|Payments on note payable
      to bank              |   |          |   |   |          |   |   | (20,000        | )
|Net cash provided by financing activities           |   | 98,814   |   |   | 596,000  |   |   | 1,828,720      |  
|Net change in cash                                  |   | (134,602 | ) |   | 42,553   |   |   | 17,162         |  
|Cash, beginning of period                           |   | 151,764  |   |   | 346,268  |   |   | 0              |  
|Cash, end of period                                 | $ | 17,162   |   | $ | 388,821  |   | $ | 17,162         |  
|Interest paid in cash                               | $ | 3,374    |   |   |          |   | $ | 4,767          |  
|Non-cash investing and financing activities:        |   |          |   |   |          |   |   |                |  
|Common stock issued for:                            |   |          |   |   |          |   |   |                |  
|Buildings and equipment                             | $ | 5,850    |   |   |          |   | $ | 5,850          |  
|Mineral properties and deferred development costs   | $ | 65,000   |   |   |          |   | $ | 264,300        |  
|Acquisitions of companies, excluding cash           |   |          |   |   |          |   | $ | 743,653        |  
|Capital lease obligation for equipment acquired     |   |          |   |   |          |   | $ | 93,275         |  

The accompanying notes are an integral part of these financial statements.

5

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NEW JERSEY MINING COMPANY
  NOTES TO FINANCIAL STATEMENTS(Unaudited)

1.           Basis
  of Presentation:

The unaudited financial statements have been prepared by the
  Company in accordance with accounting principles generally accepted in the United
  States of America for interim financial information, as well as the instructions
  to Form 10-QSB. Accordingly, they do not include all of the information and
  footnotes required by generally accepted accounting principles for complete
  financial statements. In the opinion of the Company’s management, all
  adjustments (consisting of only normal recurring accruals) considered necessary
  for a fair presentation of the interim financial statements have been included.
  Operating results for the six-month period ended June 30, 2005 are not necessarily
  indicative of the results that may be expected for the full year ending December
  31, 2005.

For further information refer to the financial statements
  and footnotes thereto in the Company’s Annual Report on Form 10-KSB/A
  for the year ended December 31, 2004.

2.           Description
  of Business

New Jersey Mining Company (“the Company”) was
  incorporated as an Idaho corporation on July 18, 1996. The Company's primary
  business is exploring for and developing gold, silver and base-metal resources
  in Idaho.

Item 2. Management's Discussion and Analysis of Financial
  Condition and Plan of Operation

General

This report contains both historical and prospective statements
  concerning the Company and its operations. Prospective statements (known as
  "forward-looking statements") may or may not prove true with the passage of
  time because of future risks and uncertainties. The Company cannot predict what
  factors might cause actual results to differ materially from those indicated
  by prospective statements.

Plan of Operation

The Company is executing its plan to continue exploration
  for gold, silver and base metal deposits in the greater Coeur d’Alene
  Mining District of northern Idaho. The Company has three advanced-stage properties
  with reserves. One of the properties, the Silver Strand, owned by the Company
  has recently received a go-ahead decision from the U.S. Forest Service (USFS)
  and will be readied for production with production planned for June 2006. A
  favorable decision had been made in March of this year but an appeal by the
  Idaho Conservation League (ICL) has delayed commencement of operations. The
  ICL appeal was denied and the March decision was affirmed recently.

At the Golden Chest mine production commenced in May 2005
  from the Katie Dora vein which was developed by a ramp in 2004. It is planned
  to mine about 3,000 tonnes grading 13 grams/tonne gold in 2005 from the Katie
  Dora reserves. The third advanced property, the Coleman vein in the New Jersey

6

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Area of Interest has an open pit which can be operated to
  fill out the mill production capacity, if necessary. Sulfide concentrates were
  produced in the second quarter of 2005 and sold to Barrick Goldstrike Mines,
  Inc. in Nevada. Other gold-bearing products were produced and sold to a gold
  refiner. Total gold production in the second quarter of 2005 was 76 troy ounces,
  most of which was from the Golden Chest mine. The second quarter was the startup
  phase for the Golden Chest mining operation. Currently, the production rate
  is approximately 300 troy ounces per quarter.

An exploration drilling program, consisting of three 150-meter
  core holes, is planned for the fourth quarter of 2005 depending on the availability
  of funding. Drilling will be done at the Golden Chest mine to test the continuity
  of deep mineralization discovered in 2004 on the Idaho vein. Reconnaissance
  exploration will continue to be done in the Company’s area of interests
  in the greater Coeur d’Alene Mining District.

The Company has sufficient funding to execute the planned
  production schedule for the next 12 months, as well as fund necessary management
  tasks such as auditing/accounting and SEC reporting. However, additional funding
  will be needed to execute the exploration plan and fund preparations for the
  development of the Silver Strand mine in 2005. The most likely source of additional
  funding is an equity offering.

The Company currently has seven employees and uses consultants
  or contractors for some project tasks. There are no plans to hire additional
  employees.

Item 3. Controls and Procedures

An evaluation was performed by the Company’s president
  and principal financial officer of the effectiveness of the design and operation
  of the Company’s disclosure controls and procedures. And on that evaluation,
  the Company’s president and principal financial officer concluded that
  disclosure controls and procedures were effective as of June 30, 2005, in ensuring
  that all material information required to be filed in this quarterly report
  has been made known to them in a timely fashion.

There has been no change in the Company’s internal controls
  over financial reporting during the quarter ended June 30, 2005, that has materially
  affected, or is reasonably likely to materially affect, the Company’s
  internal controls over financial reporting.

[The balance of this page has been intentionally left blank.]

7

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None

Item 2. Recent Sales of Unregistered Securities; Use of
  Proceeds from Registered Securities.

Neither the constituent instruments defining the rights of
  the registrant’s securities filers nor the rights evidenced by the registrant’s
  outstanding common stock have been modified, limited or qualified.

The Company issued 66,250 shares of restricted common stock
  to President Fred W. Brackebusch for management services rendered in the second
  quarter of 2005. A price of $0.40 per share was used to calculate the number
  of shares to be issued. In Management’s opinion, the securities were issued
  pursuant to exemptions from registration under Section 4(2) of the Securities
  Act of 1933 as amended.

The Company issued 10,400 shares of restricted common stock
  to Mine Systems Design, Inc., a Company controlled by our President, Fred W.
  Brackebusch, for office rent and mining equipment in the second quarter of 2005.
  A price of $0.40 per share was used to calculate the number of shares to
  be issued. In Management’s opinion, the securities were issued pursuant
  to exemptions from registration under Section 4(2) of the Securities Act of
  1933 as amended.

During the second quarter of 2005, the Company issued 25,080
  shares at an average price of $0.40 to various accredited and sophisticated
  individuals for services performed. In Management’s opinion the securities
  were issued pursuant to exemptions from registration under Section 4(2) and
  Rule 506 of Regulation D of the Securities Act of 1933 as amended.

Item 3. Defaults Upon Senior Securities

The registrant has no outstanding senior securities.

Item 4. Submission of Matters to a Vote of Security Holders

None

Item 5. Other Information

On July 13, 2005, Director Charles F. Asher passed away. Chuck
  was an original member of the Board of Directors of New Jersey Mining Company
  and will be missed. There are no plans to fill this position on the Board of
  Directors. There are currently five persons on the Board of Directors.

Item 6. Exhibits

|Exhibit Number | Description              
|-------------- | -------------------------
|               |                          
|31.1           | Section 302 Certification
|              
|32.1           | Section 906 Certification

8

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act
  of 1934, the registrant has duly caused this report to be signed on its behalf
  by the undersigned thereunto duly authorized.

| | NEW JERSEY MINING COMPANY
| | -------------------------
| |                          
| | By:                      
| |                          
| |                          
| |                          
| |                          
| |                          
| |                          
| | By:                      
| |                          
| |                          
| |                          
| |                          

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9

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